Needham & Company Maintains a 'Hold' on Under Armour, Inc. (UA); Q1 Better-Than-Expected

April 23, 2012 7:37 AM EDT Send to a Friend
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Needham & Company maintains a 'Hold' on Under Armour, Inc. (NYSE: UA).

Analyst, Sean McGowan, said, "UA reported 1Q results that were above our admittedly conservative estimates. 1Q sales were $384 mm versus our estimate of $362 mm and consensus of $378 mm. EPS were $0.28, while we were looking for $0.18 and consensus expectations called for $0.24. We believed that the unseasonably warm weather in 1Q would have a greater impact on sales and margins of cold weather apparel...We leave our 2012 EPS estimate at $2.40, as expense shifting cuts into our estimates for later quarters, but we are raising our EPS estimate for 2013 by $0.05 to $3.05, and by $0.15 in 2014 to $2.80. We maintain our rating as we believe the stock’s current valuation discounts the upside."

For an analyst ratings summary and ratings history on Under Armour, Inc. click here. For more ratings news on Under Armour, Inc. click here.

Shares of Under Armour, Inc. closed at $101.53 yesterday.


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